Zacks Equity Research, Chicago, has declared Denver-based Affordable Residential Communities its "Bear of the Day" -- a stock expected to underperform the markets over the next three to six months -- for March 7.The REIT, which specializes in manufactured home communities, "pays no dividend, has high debt levels, and is in an industry with little pricing power," Zacks said. Based on the ratio of price to funds from operations, ARC is "valued well above better-positioned peers," the research firm said. "We don't see much upside in the next few quarters, and ARC will continue to struggle throughout 2007." Zacks can be found online at http://www.zacks.com, and ARC can be found at http://www.aboutarc.com.
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